V-Mart Retail (V-Mart) has signed definitive agreements to acquire all of existing running stores of 'Unlimited' from Arvind Lifestyle Brands (ALBL), a wholly owned subsidiary of Arvind Fashions (AFL) for cash consideration.
The company will acquire the assets of all stores, warehouse, inventory as well as the store brand 'Unlimited' at their book value, with an estimated outlay of about Rs 150 crore at closing, and certain contingent payments based on certain milestones achieved in these stores over next few years, post the acquisition.
Unlimited operates a chain of 74 value fashion retail stores across South and West India and retails fashion apparel and accessories for men, women and children at affordable prices.
V-Mart Retail is one of the pioneers in setting up stores across various small Indian towns and cities. The company primarily operates in Tier-II and Tier-III cities, with a chain of ‘value retail’ departmental stores offering apparels, general merchandise and kirana, catering to the entire family.
